The Narendra Model led Government of India has launched Atal Pension Yojana (APY), a pension scheme for the workers in unorganised sector. The APY scheme will provide a guaranteed minimum pension of Rs. 1000, Rs. 2000, Rs. 3000, Rs. 4000 and Rs. 5000 per month at the age of 60 years. The pension will be depending up on the contribution by the subscribers.
Also See: PM Jeevan Jyoti Bima Yojana Scheme Benefits
Eligibility for APY Scheme:
The persons should be citizen of India and in the age group of 18-40 years. They should have a savings bank account or should open the same with a bank. The subscribers also require a mobile number for communication purpose. The Government contribution in the scheme will be available for 5 years, from 2015-16 to 2019-20 for the subscribers who join the scheme during the period from 1st June 2015 to 31st December 2015.
The subscribers should not be covered by any other social security scheme and not payers of income tax. Following is the procedure for apply / open APY account:
1) Go to the bank branch where you have savings bank account.
2) Fill up the APY registration form.
3) Provide Aadhaar Card / Mobile Number on the registration form
4) There should be required balance in the savings bank account for the the monthly contribution.
Following is the table which indicates details of monthly contribution, age and pension benefits for various stages of the APY scheme (Atal Pension Yojana):
